1{2 "indexed": {3 "date-parts": [4 [5 2026,6 6,7 278 ]9 ],10 "date-time": "2026-06-27T02:23:37Z",11 "timestamp": 1782527017640,12 "version": "3.54.5"13 },14 "reference-count": 59,15 "publisher": "Oxford University Press (OUP)",16 "issue": "657",17 "license": [18 {19 "start": {20 "date-parts": [21 [22 2023,23 7,24 2425 ]26 ],27 "date-time": "2023-07-24T00:00:00Z",28 "timestamp": 169015680000029 },30 "content-version": "vor",31 "delay-in-days": 0,32 "URL": "https://academic.oup.com/journals/pages/open_access/funder_policies/chorus/standard_publication_model"33 }34 ],35 "funder": [36 {37 "DOI": "10.13039/501100003329",38 "name": "Ministerio de Economía y Competitividad",39 "doi-asserted-by": "publisher",40 "award": [41 "MDM 2014-043"42 ],43 "award-info": [44 {45 "award-number": [46 "MDM 2014-043"47 ]48 }49 ],50 "id": [51 {52 "id": "10.13039/501100003329",53 "id-type": "DOI",54 "asserted-by": "publisher"55 }56 ]57 },58 {59 "DOI": "10.13039/501100003329",60 "name": "Ministerio de Economía y Competitividad",61 "doi-asserted-by": "publisher",62 "award": [63 "ECO2016-76818-C3-1-P"64 ],65 "award-info": [66 {67 "award-number": [68 "ECO2016-76818-C3-1-P"69 ]70 }71 ],72 "id": [73 {74 "id": "10.13039/501100003329",75 "id-type": "DOI",76 "asserted-by": "publisher"77 }78 ]79 },80 {81 "DOI": "10.13039/501100003329",82 "name": "Ministerio de Economía y Competitividad",83 "doi-asserted-by": "publisher",84 "award": [85 "PID2019-107161GB-C3"86 ],87 "award-info": [88 {89 "award-number": [90 "PID2019-107161GB-C3"91 ]92 }93 ],94 "id": [95 {96 "id": "10.13039/501100003329",97 "id-type": "DOI",98 "asserted-by": "publisher"99 }100 ]101 },102 {103 "DOI": "10.13039/501100003329",104 "name": "Ministerio de Economía y Competitividad",105 "doi-asserted-by": "publisher",106 "award": [107 "PID2020-117354GB-I00"108 ],109 "award-info": [110 {111 "award-number": [112 "PID2020-117354GB-I00"113 ]114 }115 ],116 "id": [117 {118 "id": "10.13039/501100003329",119 "id-type": "DOI",120 "asserted-by": "publisher"121 }122 ]123 },124 {125 "DOI": "10.13039/501100003329",126 "name": "Ministerio de Economía y Competitividad",127 "doi-asserted-by": "publisher",128 "award": [129 "CEX2021-001181-M"130 ],131 "award-info": [132 {133 "award-number": [134 "CEX2021-001181-M"135 ]136 }137 ],138 "id": [139 {140 "id": "10.13039/501100003329",141 "id-type": "DOI",142 "asserted-by": "publisher"143 }144 ]145 },146 {147 "DOI": "10.13039/100012818",148 "name": "Comunidad de Madrid",149 "doi-asserted-by": "publisher",150 "award": [151 "EPUC3M11"152 ],153 "award-info": [154 {155 "award-number": [156 "EPUC3M11"157 ]158 }159 ],160 "id": [161 {162 "id": "10.13039/100012818",163 "id-type": "DOI",164 "asserted-by": "publisher"165 }166 ]167 }168 ],169 "content-domain": {170 "domain": [],171 "crossmark-restriction": false172 },173 "short-container-title": [],174 "published-print": {175 "date-parts": [176 [177 2023,178 12,179 7180 ]181 ]182 },183 "abstract": "<jats:title>Abstract</jats:title>\n <jats:p>Wealthier, risk-averse buyers pay more to speed up transactions in competitive search markets. This result is established in a dynamic housing model where households save to smooth consumption and build a down payment. ‘Block recursivity’ is ensured by the existence of risk-neutral housing intermediaries. In the long run, the calibrated benchmark features higher indebtedness and house prices than a Walrasian model, especially when housing supply elasticity is low. The long-run price effects of greater credit availability are much larger if rental and owner-occupied stocks are segmented, but even without segmentation they can be substantial when supply elasticity is low.</jats:p>",184 "DOI": "10.1093/ej/uead054",185 "type": "journal-article",186 "created": {187 "date-parts": [188 [189 2023,190 7,191 25192 ]193 ],194 "date-time": "2023-07-25T04:16:36Z",195 "timestamp": 1690258596000196 },197 "page": "220-270",198 "source": "Crossref",199 "is-referenced-by-count": 2,200 "title": [201 "Housing Prices and Credit Constraints in Competitive Search"202 ],203 "prefix": "10.1093",204 "volume": "134",205 "author": [206 {207 "given": "Antonia",208 "family": "Díaz",209 "sequence": "first",210 "affiliation": [211 {212 "name": "ICAE (Complutense Institute of Economic Analysis) , Spain"213 }214 ],215 "role": [216 {217 "vocabulary": "crossref",218 "role": "author"219 }220 ]221 },222 {223 "given": "Belén",224 "family": "Jerez",225 "sequence": "additional",226 "affiliation": [227 {228 "name": "Universidad Carlos III de Madrid , Spain"229 }230 ],231 "role": [232 {233 "vocabulary": "crossref",234 "role": "author"235 }236 ]237 },238 {239 "given": "Juan Pablo",240 "family": "Rincón-Zapatero",241 "sequence": "additional",242 "affiliation": [243 {244 "name": "Universidad Carlos III de Madrid , Spain"245 }246 ],247 "role": [248 {249 "vocabulary": "crossref",250 "role": "author"251 }252 ]253 }254 ],255 "member": "286",256 "published-online": {257 "date-parts": [258 [259 2023,260 7,261 24262 ]263 ]264 },265 "reference": [266 {267 "issue": "5",268 "key": "2023120715245739100_bib1",269 "doi-asserted-by": "crossref",270 "first-page": "893",271 "DOI": "10.1086/250084",272 "article-title": "Efficient unemployment insurance",273 "volume": "107",274 "author": "Acemoglu",275 "year": "1999",276 "journal-title": "Journal of Political Economy"277 },278 {279 "issue": "3",280 "key": "2023120715245739100_bib2",281 "doi-asserted-by": "crossref",282 "first-page": "1195",283 "DOI": "10.1111/iere.12454",284 "article-title": "Endogenous sources of volatility in housing markets: The joint buyer–seller problem",285 "volume": "61",286 "author": "Anenberg",287 "year": "2020",288 "journal-title": "International Economic Review"289 },290 {291 "key": "2023120715245739100_bib3",292 "doi-asserted-by": "crossref",293 "DOI": "10.1007/978-0-8176-4755-1",294 "volume-title": "Optimal Control and Viscosity Solutions of Hamilton-Jacobi-Bellman Equations",295 "author": "Bardi",296 "year": "1997"297 },298 {299 "issue": "3",300 "key": "2023120715245739100_bib4",301 "doi-asserted-by": "crossref",302 "first-page": "351",303 "DOI": "10.1023/A:1007737102125",304 "article-title": "Buyer search intensity and the role of the residential real estate broker",305 "volume": "18",306 "author": "Baryla",307 "year": "1999",308 "journal-title": "The Journal of Real Estate Finance and Economics"309 },310 {311 "issue": "1",312 "key": "2023120715245739100_bib5",313 "doi-asserted-by": "crossref",314 "first-page": "75",315 "DOI": "10.1080/10835547.2000.12091036",316 "article-title": "An investigation of buyer search in the residential real estate market under different market conditions",317 "volume": "20",318 "author": "Baryla",319 "year": "2000",320 "journal-title": "Journal of Real Estate Research"321 },322 {323 "key": "2023120715245739100_bib6",324 "article-title": "The microgeography of housing supply",325 "author": "Baum-Snow",326 "year": "2019"327 },328 {329 "key": "2023120715245739100_bib7",330 "doi-asserted-by": "crossref",331 "first-page": "101875",332 "DOI": "10.1016/j.jhe.2022.101875",333 "article-title": "Price dispersion and time-on-market in the housing market",334 "volume": "58",335 "author": "Ben-Shahar",336 "year": "2022",337 "journal-title": "Journal of Housing Economics"338 },339 {340 "key": "2023120715245739100_bib8",341 "article-title": "Survey of consumer finances",342 "author": "Board of Governors of the Federal Reserve System",343 "year": "2019"344 },345 {346 "key": "2023120715245739100_bib9",347 "article-title": "Information and wealth heterogeneity in the macroeconomy",348 "author": "Broer",349 "year": "2021"350 },351 {352 "key": "2023120715245739100_bib10",353 "first-page": "2",354 "article-title": "New facts on the distribution of earnings, income and wealth in the US",355 "volume": "21",356 "author": "Budria",357 "year": "2002",358 "journal-title": "Federal Reserve Bank of Minneapolis Quarterly Review"359 },360 {361 "key": "2023120715245739100_bib11",362 "doi-asserted-by": "crossref",363 "first-page": "51",364 "DOI": "10.1016/j.jmoneco.2022.03.009",365 "article-title": "Wealth on-the-job search and inequality",366 "volume": "128",367 "author": "Chaumont",368 "year": "2022",369 "journal-title": "Journal of Monetary Economics"370 },371 {372 "key": "2023120715245739100_bib12",373 "doi-asserted-by": "crossref",374 "first-page": "105019",375 "DOI": "10.1016/j.jet.2020.105019",376 "article-title": "Reverse calculus and nested optimization",377 "volume": "187",378 "author": "Clausen",379 "year": "2020",380 "journal-title": "Journal of Economic Theory"381 },382 {383 "issue": "2",384 "key": "2023120715245739100_bib14",385 "doi-asserted-by": "crossref",386 "first-page": "332",387 "DOI": "10.1016/0022-0531(83)90081-9",388 "article-title": "A complete characterization of optimal growth paths in an aggregated model with a non-concave production function",389 "volume": "31",390 "author": "Dechert",391 "year": "1983",392 "journal-title": "Journal of Economic Theory"393 },394 {395 "issue": "3",396 "key": "2023120715245739100_bib13",397 "doi-asserted-by": "crossref",398 "first-page": "507",399 "DOI": "10.1016/j.regsciurbeco.2013.03.001",400 "article-title": "Asymmetric information and list-price reductions in the housing market",401 "volume": "43",402 "author": "De Wit",403 "year": "2013",404 "journal-title": "Regional Science and Urban Economics"405 },406 {407 "key": "2023120715245739100_bib15",408 "doi-asserted-by": "crossref",409 "first-page": "837",410 "DOI": "10.1111/iere.12019",411 "article-title": "House prices, sales, and time on the market: A search-theoretic framework",412 "volume": "54",413 "author": "Díaz",414 "year": "2013",415 "journal-title": "International Economic Review"416 },417 {418 "issue": "3",419 "key": "2023120715245739100_bib16",420 "doi-asserted-by": "crossref",421 "first-page": "584",422 "DOI": "10.1016/j.red.2007.12.002",423 "article-title": "On the user cost and homeownership",424 "volume": "11",425 "author": "Díaz",426 "year": "2008",427 "journal-title": "Review of Economic Dynamics"428 },429 {430 "issue": "1",431 "key": "2023120715245739100_bib17",432 "doi-asserted-by": "crossref",433 "first-page": "143",434 "DOI": "10.1111/j.1468-2354.2009.00574.x",435 "article-title": "The wealth distribution with durable goods",436 "volume": "51",437 "author": "Díaz",438 "year": "2010",439 "journal-title": "International Economic Review"440 },441 {442 "key": "2023120715245739100_bib18",443 "doi-asserted-by": "crossref",444 "DOI": "10.1093/restud/rdad059",445 "article-title": "The effect of wealth on worker productivity",446 "author": "Eeckhout",447 "year": "2023",448 "journal-title": "The Review of Economic Studies"449 },450 {451 "key": "2023120715245739100_bib19",452 "doi-asserted-by": "crossref",453 "first-page": "184",454 "DOI": "10.1016/j.red.2017.07.003",455 "article-title": "Borrowing constraints and housing market liquidity",456 "volume": "27",457 "author": "Eerola",458 "year": "2018",459 "journal-title": "Review of Economic Dynamics"460 },461 {462 "issue": "1",463 "key": "2023120715245739100_bib20",464 "doi-asserted-by": "crossref",465 "first-page": "140",466 "DOI": "10.1086/689606",467 "article-title": "The macroeconomic effects of housing wealth, housing finance, and limited risk sharing in general equilibrium",468 "volume": "125",469 "author": "Favilukis",470 "year": "2017",471 "journal-title": "Journal of Political Economy"472 },473 {474 "issue": "2",475 "key": "2023120715245739100_bib21",476 "doi-asserted-by": "crossref",477 "first-page": "329",478 "DOI": "10.1016/j.red.2013.07.001",479 "article-title": "A generalized endogenous grid method for non-smooth and non-concave problems",480 "volume": "17",481 "author": "Fella",482 "year": "2014",483 "journal-title": "Review of Economic Dynamics"484 },485 {486 "issue": "1",487 "key": "2023120715245739100_bib22",488 "doi-asserted-by": "crossref",489 "first-page": "229",490 "DOI": "10.1093/restud/rdaa034",491 "article-title": "Cross-sectional patterns of mortgage debt during the housing boom: Evidence and implications",492 "volume": "88",493 "author": "Foote",494 "year": "2020",495 "journal-title": "The Review of Economic Studies"496 },497 {498 "issue": "6",499 "key": "2023120715245739100_bib23",500 "doi-asserted-by": "crossref",501 "first-page": "1603",502 "DOI": "10.1257/aer.20170772",503 "article-title": "Mortgage debt, consumption, and illiquid housing markets in the great recession",504 "volume": "110",505 "author": "Garriga",506 "year": "2020",507 "journal-title": "American Economic Review"508 },509 {510 "key": "2023120715245739100_bib24",511 "doi-asserted-by": "crossref",512 "DOI": "10.3386/w29391",513 "article-title": "Do credit conditions move house prices?",514 "author": "Greenwald",515 "year": "2021"516 },517 {518 "issue": "3",519 "key": "2023120715245739100_bib25",520 "doi-asserted-by": "crossref",521 "first-page": "1172",522 "DOI": "10.1086/697207",523 "article-title": "House price momentum and strategic complementarity",524 "volume": "126",525 "author": "Guren",526 "year": "2018",527 "journal-title": "Journal of Political Economy"528 },529 {530 "issue": "8",531 "key": "2023120715245739100_bib26",532 "doi-asserted-by": "crossref",533 "first-page": "3742",534 "DOI": "10.1093/rfs/hhab047",535 "article-title": "The effects of a targeted financial constraint on the housing market",536 "volume": "34",537 "author": "Han",538 "year": "2021",539 "journal-title": "Review of Financial Studies"540 },541 {542 "issue": "4",543 "key": "2023120715245739100_bib27",544 "doi-asserted-by": "crossref",545 "first-page": "1172",546 "DOI": "10.1257/aer.104.4.1172",547 "article-title": "Search, liquidity, and the dynamics of house prices and construction",548 "volume": "104",549 "author": "Head",550 "year": "2014",551 "journal-title": "American Economic Review"552 },553 {554 "issue": "C",555 "key": "2023120715245739100_bib28",556 "doi-asserted-by": "crossref",557 "first-page": "104321",558 "DOI": "10.1016/j.euroecorev.2022.104321",559 "article-title": "Indebted sellers, liquidity and mortgage standards",560 "volume": "151",561 "author": "Head",562 "year": "2023",563 "journal-title": "European Economic Review"564 },565 {566 "key": "2023120715245739100_bib29",567 "doi-asserted-by": "crossref",568 "first-page": "1",569 "DOI": "10.1016/j.jmoneco.2016.08.005",570 "article-title": "Illiquidity and its discontents: Trading delays and foreclosures in the housing market",571 "volume": "83",572 "author": "Hedlund",573 "year": "2016",574 "journal-title": "Journal of Monetary Economics"575 },576 {577 "issue": "1",578 "key": "2023120715245739100_bib30",579 "doi-asserted-by": "crossref",580 "first-page": "289",581 "DOI": "10.3982/QE483",582 "article-title": "The cyclical dynamics of illiquid housing, debt, and foreclosures",583 "volume": "7",584 "author": "Hedlund",585 "year": "2016",586 "journal-title": "Quantitative Economics"587 },588 {589 "issue": "2",590 "key": "2023120715245739100_bib31",591 "doi-asserted-by": "crossref",592 "first-page": "279",593 "DOI": "10.2307/2297382",594 "article-title": "On the efficiency of matching and related models of search and unemployment",595 "volume": "57",596 "author": "Hosios",597 "year": "1990",598 "journal-title": "Review of Economic Studies"599 },600 {601 "issue": "5–6",602 "key": "2023120715245739100_bib32",603 "doi-asserted-by": "crossref",604 "first-page": "953",605 "DOI": "10.1016/0165-1889(93)90024-M",606 "article-title": "The risk-free rate in heterogeneous-agent incomplete-insurance economies",607 "volume": "17",608 "author": "Huggett",609 "year": "1993",610 "journal-title": "Journal of Economic Dynamics and Control"611 },612 {613 "issue": "C",614 "key": "2023120715245739100_bib33",615 "doi-asserted-by": "crossref",616 "first-page": "252",617 "DOI": "10.1016/j.jet.2014.07.008",618 "article-title": "Competitive equilibrium with search frictions: A general equilibrium approach",619 "volume": "153",620 "author": "Jerez",621 "year": "2014",622 "journal-title": "Journal of Economic Theory"623 },624 {625 "issue": "9",626 "key": "2023120715245739100_bib34",627 "doi-asserted-by": "crossref",628 "first-page": "3285",629 "DOI": "10.1086/708816",630 "article-title": "The housing boom and bust: Model meets evidence",631 "volume": "128",632 "author": "Kaplan",633 "year": "2020",634 "journal-title": "Journal of Political Economy"635 },636 {637 "issue": "C",638 "key": "2023120715245739100_bib35",639 "doi-asserted-by": "crossref",640 "first-page": "47",641 "DOI": "10.1016/j.jedc.2018.12.007",642 "article-title": "Geographic reallocation and unemployment during the Great Recession: The role of the housing bust",643 "volume": "100",644 "author": "Karahan",645 "year": "2019",646 "journal-title": "Journal of Economic Dynamics and Control"647 },648 {649 "issue": "2",650 "key": "2023120715245739100_bib36",651 "doi-asserted-by": "crossref",652 "first-page": "211",653 "DOI": "10.1086/262072",654 "article-title": "Credit cycles",655 "volume": "105",656 "author": "Kiyotaki",657 "year": "1997",658 "journal-title": "Journal of Political Economy"659 },660 {661 "key": "2023120715245739100_bib37",662 "article-title": "Liquidity in residential real estate markets",663 "author": "Kotova",664 "year": "2020"665 },666 {667 "issue": "1",668 "key": "2023120715245739100_bib38",669 "first-page": "61",670 "article-title": "Real estate appraisals, hedonic models and the measurement of house price dispersion",671 "volume": "56",672 "author": "Lisi",673 "year": "2013",674 "journal-title": "Journal of Economics and Econometrics"675 },676 {677 "issue": "4",678 "key": "2023120715245739100_bib39",679 "doi-asserted-by": "crossref",680 "first-page": "1453",681 "DOI": "10.1016/j.jet.2009.10.016",682 "article-title": "Block recursive equilibria for stochastic models of search on the job",683 "volume": "145",684 "author": "Menzio",685 "year": "2010",686 "journal-title": "Journal of Economic Theory"687 },688 {689 "issue": "3",690 "key": "2023120715245739100_bib40",691 "doi-asserted-by": "crossref",692 "first-page": "468",693 "DOI": "10.1086/660864",694 "article-title": "Efficient search on the job and the business cycle",695 "volume": "119",696 "author": "Menzio",697 "year": "2011",698 "journal-title": "Journal of Political Economy"699 },700 {701 "issue": "6",702 "key": "2023120715245739100_bib41",703 "doi-asserted-by": "crossref",704 "first-page": "2266",705 "DOI": "10.1016/j.jet.2013.07.020",706 "article-title": "A monetary theory with non-degenerate distributions",707 "volume": "148",708 "author": "Menzio",709 "year": "2013",710 "journal-title": "Journal of Economic Theory"711 },712 {713 "issue": "2",714 "key": "2023120715245739100_bib42",715 "doi-asserted-by": "crossref",716 "first-page": "192",717 "DOI": "10.1016/j.jue.2004.05.004",718 "article-title": "Bargaining over residential real estate: Evidence from England",719 "volume": "56",720 "author": "Merlo",721 "year": "2004",722 "journal-title": "Journal of Urban Economics"723 },724 {725 "issue": "2",726 "key": "2023120715245739100_bib43",727 "doi-asserted-by": "crossref",728 "first-page": "583",729 "DOI": "10.1111/1468-0262.00296",730 "article-title": "Envelope theorems for arbitrary choice sets",731 "volume": "70",732 "author": "Milgrom",733 "year": "2002",734 "journal-title": "Econometrica"735 },736 {737 "issue": "2",738 "key": "2023120715245739100_bib44",739 "doi-asserted-by": "crossref",740 "first-page": "385",741 "DOI": "10.1086/262077",742 "article-title": "Competitive search equilibrium",743 "volume": "105",744 "author": "Moen",745 "year": "1997",746 "journal-title": "Journal of Political Economy"747 },748 {749 "issue": "1",750 "key": "2023120715245739100_bib45",751 "doi-asserted-by": "crossref",752 "first-page": "38",753 "DOI": "10.1093/jeea/jvz069",754 "article-title": "Buying first or selling first in housing markets",755 "volume": "19",756 "author": "Moen",757 "year": "2019",758 "journal-title": "Journal of the European Economic Association"759 },760 {761 "issue": "5",762 "key": "2023120715245739100_bib46",763 "doi-asserted-by": "crossref",764 "first-page": "2487",765 "DOI": "10.1093/jeea/jvaa001",766 "article-title": "The decision to move house and aggregate housing-market dynamics",767 "volume": "18",768 "author": "Ngai",769 "year": "2020",770 "journal-title": "Journal of the European Economic Association"771 },772 {773 "issue": "12",774 "key": "2023120715245739100_bib47",775 "doi-asserted-by": "crossref",776 "first-page": "3991",777 "DOI": "10.1257/aer.104.12.3991",778 "article-title": "Hot and cold seasons in the housing market",779 "volume": "104",780 "author": "Ngai",781 "year": "2014",782 "journal-title": "American Economic Review"783 },784 {785 "issue": "2",786 "key": "2023120715245739100_bib48",787 "doi-asserted-by": "crossref",788 "first-page": "459",789 "DOI": "10.1111/j.1467-937X.2006.383_1.x",790 "article-title": "Housing market dynamics: On the contribution of income shocks and credit constraints",791 "volume": "73",792 "author": "Ortalo-Magné",793 "year": "2006",794 "journal-title": "Review of Economic Studies"795 },796 {797 "issue": "3",798 "key": "2023120715245739100_bib49",799 "doi-asserted-by": "crossref",800 "first-page": "720",801 "DOI": "10.1257/aer.20141772",802 "article-title": "Segmented housing search",803 "volume": "110",804 "author": "Piazzesi",805 "year": "2020",806 "journal-title": "American Economic Review"807 },808 {809 "key": "2023120715245739100_bib50",810 "article-title": "Homebuyers’ heterogeneity and housing prices",811 "author": "Qiu",812 "year": "2018"813 },814 {815 "issue": "1",816 "key": "2023120715245739100_bib51",817 "doi-asserted-by": "crossref",818 "first-page": "79",819 "DOI": "10.1007/s40505-019-00166-4",820 "article-title": "Differentiability of the value function and Euler equation in non-concave discrete-time stochastic dynamic programming",821 "volume": "8",822 "author": "Rincón-Zapatero",823 "year": "2020",824 "journal-title": "Economic Theory Bulletin"825 },826 {827 "issue": "5",828 "key": "2023120715245739100_bib52",829 "doi-asserted-by": "crossref",830 "first-page": "1519",831 "DOI": "10.1111/1468-0262.00457",832 "article-title": "Existence and uniqueness of solutions to the Bellman equation in the unbounded case",833 "volume": "71",834 "author": "Rincón-Zapatero",835 "year": "2003",836 "journal-title": "Econometrica"837 },838 {839 "key": "2023120715245739100_bib53",840 "article-title": "Computation of equilibria in heterogeneous agent economies",841 "author": "Ríos-Rull",842 "year": "1997"843 },844 {845 "issue": "3",846 "key": "2023120715245739100_bib54",847 "doi-asserted-by": "crossref",848 "first-page": "1253",849 "DOI": "10.1162/qjec.2010.125.3.1253",850 "article-title": "The geographic determinants of housing supply",851 "volume": "125",852 "author": "Saiz",853 "year": "2010",854 "journal-title": "The Quarterly Journal of Economics"855 },856 {857 "issue": "2",858 "key": "2023120715245739100_bib55",859 "doi-asserted-by": "crossref",860 "first-page": "561",861 "DOI": "10.3982/ECTA7870",862 "article-title": "Directed search for equilibrium wage-tenure contracts",863 "volume": "77",864 "author": "Shi",865 "year": "2009",866 "journal-title": "Econometrica"867 },868 {869 "issue": "2",870 "key": "2023120715245739100_bib56",871 "doi-asserted-by": "crossref",872 "first-page": "241",873 "DOI": "10.1257/aer.20141751",874 "article-title": "Implications of US tax policy for house prices, rents, and homeownership",875 "volume": "108",876 "author": "Sommer",877 "year": "2018",878 "journal-title": "American Economic Review"879 },880 {881 "issue": "7",882 "key": "2023120715245739100_bib57",883 "doi-asserted-by": "crossref",884 "first-page": "854",885 "DOI": "10.1016/j.jmoneco.2013.04.017",886 "article-title": "The equilibrium effect of fundamentals on house prices and rents",887 "volume": "60",888 "author": "Sommer",889 "year": "2013",890 "journal-title": "Journal of Monetary Economics"891 },892 {893 "key": "2023120715245739100_bib58",894 "doi-asserted-by": "crossref",895 "first-page": "609",896 "DOI": "10.1016/j.jmoneco.2003.06.005",897 "article-title": "Consumption and risk sharing over the life cycle",898 "volume": "51",899 "author": "Storesletten",900 "year": "2004",901 "journal-title": "Journal of Monetary Economics"902 },903 {904 "issue": "1",905 "key": "2023120715245739100_bib59",906 "doi-asserted-by": "crossref",907 "first-page": "90",908 "DOI": "10.1257/jel.20191505",909 "article-title": "Directed search and competitive search equilibrium: A guided tour",910 "volume": "59",911 "author": "Wright",912 "year": "2021",913 "journal-title": "Journal of Economic Literature"914 }915 ],916 "container-title": [917 "The Economic Journal"918 ],919 "original-title": [],920 "language": "en",921 "link": [922 {923 "URL": "https://academic.oup.com/ej/advance-article-pdf/doi/10.1093/ej/uead054/51730727/uead054.pdf",924 "content-type": "application/pdf",925 "content-version": "am",926 "intended-application": "syndication"927 },928 {929 "URL": "https://academic.oup.com/ej/article-pdf/134/657/220/54042448/uead054.pdf",930 "content-type": "application/pdf",931 "content-version": "vor",932 "intended-application": "syndication"933 },934 {935 "URL": "https://academic.oup.com/ej/article-pdf/134/657/220/54042448/uead054.pdf",936 "content-type": "unspecified",937 "content-version": "vor",938 "intended-application": "similarity-checking"939 }940 ],941 "deposited": {942 "date-parts": [943 [944 2023,945 12,946 7947 ]948 ],949 "date-time": "2023-12-07T21:59:05Z",950 "timestamp": 1701986345000951 },952 "score": 1,953 "resource": {954 "primary": {955 "URL": "https://academic.oup.com/ej/article/134/657/220/7230361"956 }957 },958 "subtitle": [],959 "short-title": [],960 "issued": {961 "date-parts": [962 [963 2023,964 7,965 24966 ]967 ]968 },969 "references-count": 59,970 "journal-issue": {971 "issue": "657",972 "published-online": {973 "date-parts": [974 [975 2023,976 7,977 24978 ]979 ]980 },981 "published-print": {982 "date-parts": [983 [984 2023,985 12,986 7987 ]988 ]989 }990 },991 "URL": "https://doi.org/10.1093/ej/uead054",992 "relation": {},993 "ISSN": [994 "0013-0133",995 "1468-0297"996 ],997 "issn-type": [998 {999 "value": "0013-0133",1000 "type": "print"1001 },1002 {1003 "value": "1468-0297",1004 "type": "electronic"1005 }1006 ],1007 "subject": [],1008 "published-other": {1009 "date-parts": [1010 [1011 2024,1012 11013 ]1014 ]1015 },1016 "published": {1017 "date-parts": [1018 [1019 2023,1020 7,1021 241022 ]1023 ]1024 }1025}